Gustavo Petricioli, 70, Mexico's Ex-Envoy

Published: October 12, 1998

MEXICO CITY, Oct. 11—
Gustavo Petricioli Iturbide, who served as Mexico's Treasury Secretary during the debt crisis of the 1980's and who was later Ambassador to the United States, died on Saturday. He was 70.

Mr. Petricioli died of a heart attack in Los Angeles Hospital in Mexico City, the official news agency Notimex reported.

President Miguel de la Madrid appointed Mr. Petricioli the Treasury Secretary in June 1986. At that time, Mexico's foreign debt was near $100 billion, largely as a result of the collapse of oil prices at the start of the decade.

He served as Ambassador to the United States from January 1989 to January 1993 during the Administration of President Carlos Salinas de Gortari as Mexico negotiated the restructuring of its debt.

During that period, Mexico also began negotiations with the United States and Canada on the North American Free Trade Agreement, which went into operation on Jan. 1, 1994.

Mr. Petricioli, who received a master's degree from Yale University, had also held positions at the Nacional Financiera development bank and the Bank of Mexico.